Business
First draw-down of the HIT funding-facility
First draw-down of the HIT funding-facility.
About this update from Sancus Lending Group Limited
[{"type":"text","content":"\n \nRNS Number : 2103G GLI Finance Limited 28 February 2018 \n\nGLI Finance Limited\n(\"GLI\" or the \"Company\")\n \nFirst draw-down of the HIT funding-facility\n \nThe Board of GLI and Sancus BMS Group are pleased to announce the first significant draw-down, of £17.5 million, from the Honeycomb Investment Trust (\"HIT\") funding facility. The provision of the facility was announced on 29 January 2018 and is available to further expand the activities of Sancus, the Company's property backed lending business.\n \nAs previously announced the funding-line has a term of 3 years and comprises a £50 million accordion and revolving credit facility.\n \nAndy Whelan, CEO of GLI and Sancus BMS Group said:\n \n\"When we announced that HIT had provided a substantial funding line to Sancus I said that this would facilitate further expansion of our successful property-backed lending facilities; with this first, substantial, draw-down that process has successfully commenced.\"\n \n \n For further information, please contact:\n\n\n\n\nGLI Finance Limited\nAndy Whelan\n+44 (0) 1534 708900\n \n\n\n\n\nLiberum (Nominated Advisor & Corporate Broker)\nSteve Pearce\nChris Clarke\nJonathan Wilkes-Green\n+44 (0) 20 3100 2190\n \n\n\n\n\nInstinctif Partners (PR Advisor)\nTim Linacre\n+44 (0) 20 7457 2020\n \n\n\n\n\nInside information\nThis announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.\nAbout GLI Finance\nGLI is an AIM listed innovative alternative finance business, which owns a niche SME lender, Sancus BMS that operates in 6 jurisdictions - UK, Ireland, Jersey, Guernsey, Gibraltar and the Isle of Man, and a portfolio of emerging FinTech SME-focussed lending platforms that are located on 3 continents. \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END NRAFKFDDCBKKNBB\n ","length":3442,"tagName":"div"}]